How I Set Goals That ACTUALLY MAKE MONEY

How I got here…

21: Graduated Vanderbilt in 3 years Magna Cum Laude, and took a fancy consulting job.
23 yrs old: Left my fancy consulting job to start a business (a gym).
24 yrs old: Opened 5 gym locations.
26 yrs old: Closed down 6th gym. Lost everything.
26 yrs old: Got back to launching gyms (launched 33). Then, lost everything for a 2nd time.
26 yrs old: In desperation, started licensing model as a hail mary. It worked.
27 yrs old: "Gym Launch" does $3M profit the next 6 months. Then $17M profit next 12 months.
28 yrs old: Started Prestige Labs. $20M the first year.
29 yrs old: Launched ALAN, a software company for agencies to work leads for customers. Scaled to $1.7mmo within 6 months.
31 yrs old: Sold 75% of UseAlan to a strategic buyer in an all stock deal.
31 yrs old: Sold 66% of Gym Launch & Prestige Labs at $46.2M valuation in all-cash deal to American Pacific Group. (you can google it)
32 yrs old: Started making free content showing how we grow companies to make real business education accessible to everyone (and) to attract business owners to invest or scale their businesses.

Today: Our portfolio now does $200M/yr between 10 companies. The largest doing $100M/yr the smallest doing $5M per year. Our ownership varies between 20% and 100% ownership of the companies. Many of them we invested in early and helped grow (which is how we make our money - not youtube videos).

To all the gladiators in the arena, we’re all in the middle of writing our own stories. The worse the monsters, the more epic the story.

You either get an epic outcome or an epic story. Both mean you win.

Keep crushing. May your desires be greater than your obstacles.

Never quit,

Alex

*FULL DISCLOSURE*
I make content to make money - just - on a longer time horizon than most. I want to build trust with business owners so we can find the best ones and help them scale. And if they’re awesome, write them a check and go all the way as partners.

[AlexMcDaniels]

Most goals should:
1.Get You More Customers
2.Make Customers Worth More
3.Increase Enterprise Value

[seanmysel]

It's actually a relief mentally to go through this process. My wife and I had a hypothesis that if we created more live videos and content we'd get more clicks to our products and then more sales. Well, we created the content, got the clicks and didn't get more sales. So we stopped and it was a huge relief because I HATE doing content. All we did was focused on making our products better with the hypothesis of reducing refunds. That actually worked so our customers became more valuable and bought more products. Great video!

[animeprofiles]

Dude!!!
Nailed it !!
I have been working on a similar framework for inexpensive experimentation and then using the reuslts to improvise my experiments
Then reiterate until i find my winning formula!!

Your system really clicked!!
Thanks for sharing something so practical!!
You deserves respect for delivering what was promsied in the thumbnail

[chadmichael]

Hey Alex, I'm a CRO specialist and programme developer - this whole method is what we use in CRO every day :D Great video. I write a lot about how to create hypotheses, how to link metrics to business objectives, and most importantly facilitating workshops with the right people to plan for the next 3 to 12 months. :)

[motivemystic]

Wow, this video is a game-changer! Setting goals that actually make money is crucial for any entrepreneur. I love how the speaker emphasizes the importance of actionable steps and a clear plan. Also, grabbing a copy of the $100M Leads book seems like a no-brainer for local business owners like myself. Can't wait to dive in and start applying these strategies!

[eliedaccache]

Great book that walks through this exact process: 4DX - The 4 Disciplines of Execution.

The 4 disciplines are:

1-Finding the most important goal you could be focusing on by saying no to "good" and "great" ideas
2-Finding the lead measures (or as Alex said: inputs) and the lag measures (outputs)
3-Creating an effective scoreboard to engage your teams
4-Implementing a "cadence of accountability" to keep the progress consistent

*Emphasis on FINDING. Because as Alex said, it starts with a hypothesis. Especially when you're running a new initiative and you have no data.

[theAlexGirod]

How to set Goals
1.Ask What Problem are We Solving
2. Create a Hypothesis (My Inputs "X" will create outputs "Y")
3. Execute Inputs "X"
4. Evaluate after executing if they created outputs "Y"

[laufragor]

Wtf - this is the first video of yours that I watch, and I love how you just get to the point. I found myself pausing the vid and rewinding 10s multiple times because I could tell you just dropped some terrific advice in a matter of seconds (e.g. 0:22 to 0:29, 2:05 to 2:10). Instant like and sub 💯

[Mrblk]

I'm glad I found this. Because what I found to help me set goals is to identify what I WANT because for every WANT theres atleast a handful of HAVES
Example.
If someone WANTS to lose weight, they HAVE to go to the gym, quit junk food, eat healthier, etc.
Goals are nothing without a system.

[emekaudeogu]

Goal setting deconstructed. This method is simple and straight forward. I would definitely use in my business. Thanks

[Junglr]

Hey Alex and team, this is FANTASTIC!!! I appreciate you putting out this content more than you know!

I was wondering if you could make a video covering the analytics you look at. Alex is constantly talking about moves that aren't on the table. It would be great to get an idea of what types of data he's looking at to find these moves.

[joshua.johnson]

This is such a beautiful mindset. Money is a science in which you’re continually experimenting with new things and variables. I love the notion of a hypothesis rather than a goal, because changing a hypothesis is mich more constructive than telling yourself you “failed your goal.”

[xXJJwXx]

Alternative title: How to use the Scientific method to build a $200M company

Banger video thank you for all the content!

[dvgimfl]

VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but *VRI TOKEN* info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well

[rollierollout]

As someone who works a 9-5 corporate job, I wish this was how it worked! We're stuck in a break/fix cycle that isn't getting any better and all the execs can think of is throwing new, expensive software at infrastructure problems. That doesn't fix anything-- just makes it more complicated to fix when it breaks again. Whatever. As long as I get my pay check, I guess. 🤷‍♀️ It just makes my job so boring because there is no innovation.

[BWentland]

Great video! I've read just about everything you could on goal settings such as smart or fast goals and I think this is a significant improvement.

My takeaway: Traditional goal setting methods should be revised to focus on outputs rather than inputs, utilizing a scientific approach. Consider small improvements that lead to larger cumulative results. A four-step goal setting process is suggested: identify the problem, form a hypothesis, define the actions, and measure the results. This approach encourages organizational alignment and purpose-driven work.

[huseyinpamuk]

*VRI TOKEN* is a bluechip longterm hold. I dont even care if it replaces ETH(holding this too).

[mahmutkalkan]

*VRI TOKEN* is less that $1 just like the 2012 bitcoin days... time to

[Maverickcole_]

I like how Alex used Science to break down this business advice. Science was always my favorite subject in school, now I know why this makes sense. 👏

[martinmenesestv]

This is the best way I've ever seen to do this, thanks a lot!